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2016 (1) TMI 82 - HC - Income TaxPenalty under Section 271(1)(C) - concealed income as detected by the Department during the survey - ITAT deleted the penalty - notice under Section 148 of the Act was issued, finding no other alternative the assessee surrendered income to avoid penal consequences - Held that:- Since admittedly the revised return for the said assessment year was filed by the assessee before issuance of notice under section 148, we are of the view that the order of the Tribunal requires no interference. The judgement in CIT v. Smt. Sova Bajoria (1997 (12) TMI 88 - CALCUTTA High Court ), relied on by Mr.Bhowmik is inapplicable as therein the assessee had filed the second revised return after the assessment proceedings had begun, unlike the case in hand, where the proceedings under section 148 were yet to begin.The appeal is not admitted. - Decided against revenue
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